A physicist sold his Nobel Prize to help pay medical bills

A physicist(ˈfizəsist) sold his Nobel(ˌnōbel) Prize(ˈprīz) to help pay medical(ˈmedək(ə)l) bills(bills)

By Sarah(ˈse(ə)rə) Gantz

Nobel laureates(ˈlär-,ˈlôrē-it) are an exceptional(ikˈsepSHənəl
) group, but even they can’t escape(əˈskāp) a common American problem: medical bills.

Leon(lēˈen) Lederman(lēdər), a physicist who received the Nobel Prize in 1988 as part of a team that discovered the “God particle(ˈpärdək(ə)l),” died Wednesday(-dē,ˈwenzdā) at age 96. Lederman had memory-loss(läs,lôs) problems and died at a nursing(ˈnərsiNG) home in Idaho(ˈīdəˌhō), according to the Associated(-SHē-,əˈsōsēˌātid) Press.

In 2015, he sold his prize at auction(ˈôkSHən) for $765,000 to help cover medical bills, the AP reported.
Medical bills, especially in later years, can be crushing — and most people don’t have something as valuable as a Nobel Prize to sell to pay off their debts(det).

One in five working-age Americans with health insurance(inˈSHo͝orəns) reported having difficulty paying medical bills in a 2016 survey(sərˈvā) by the Kaiser(kazər) Family Foundation and the New York Times. Just over 60 percent said they had used up most or all of their savings, and 42 percent took on extra(ˈekstrə) jobs or worked more hours to pay their debts, according to the report.

Medicare(ˈmediˌke(ə)r) may offer some relief(riˈlēf) from routine(ro͞oˈtēn) medical bills, but there’s no escape(əˈskāp) from medical costs. Medicare plans still have co-pays and other cost-sharing for medications(ˌmedəˈkāSHən) and doctor visits.

Nursing(ˈnərsiNG)-home care(ke(ə)r) in particular can be a major expense for families because it is not covered by Medicare.

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http://www2.philly.com/philly/health/health-costs/leon-lederman-sold-nobel-prize-medical-bills-health-costs-20181004.html